India Imposes Anti-dumping Duty on 5 Chinese Goods; Domestic Industry will Benefit
India has imposed anti-dumping duty on five Chinese goods. Since goods are being imported from the neighboring country at relatively cheap prices, this poses a risk of harming the domestic market industry. Keeping this in mind, the central government has taken this action.
What is Anti-Dumping Duty?
Anti-dumping duties are tariffs imposed on foreign imports that are priced below their fair market value, often due to government subsidies or price manipulation by exporters. Such practices allow foreign manufacturers to undercut domestic prices, leading to economic losses for local industries.
India’s Justification for Implementing Anti-dumping Duties
The DGTR conducted detailed investigations and found that certain products imported from China were being sold at unreasonably low prices, causing material injury to Indian manufacturers. To correct this imbalance, India has decided to implement anti-dumping duties on 5 key products from China.
India Imposes Anti-dumping Duty on 5 Chinese Goods
This new tax will be imposed on items like soft drinks, vacuum insulated flasks, aluminum foil, Trichloroisocyanuric acid, and polyvinyl chloride paste resin. The Central Board of Indirect Taxes and Customs (CBIC) has announced that the duty will be imposed on soft drinks, vacuum insulated flasks and trichloroisocyanuric acid for a period of five years. An anti-dumping duty of $873 per ton will be imposed on aluminium foil for a period of six months. Taxes ranging from $277 to $986 per ton will be imposed on acid imports from China and Japan.
Soft cores used in e-vehicles, chargers and telecom devices will be taxed at up to 35%. A tax of $1732 per ton has been announced on vacuum insulated flasks. Anti-dumping tax of $89 to $707 per ton will be imposed on polyvinyl. India has imposed anti-dumping duty for five years on products in this category from countries like China, Korea, Malaysia, Norway, Taiwan and Thailand. The central government has taken such action after a DGTR investigation. China is India’s second largest trading partner.
Domestic Industry will Benefit
Since goods are being imported from the neighboring country at relatively cheap prices, this poses a risk of harming the domestic market industry. Keeping this in mind, the central government has taken this action and with this the domestic industry will benefit. The Centre will bring a single recruitment portal, if it is operational, it will prevent wastage of time and energy of aspirants.
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